Brazilian steelmaker Usiminas’s auto parts and components division Usiparts has officially launched operations at a new line in its stamping shop at Pouso Alegre city in the Minas Gerais state of Brazil.

Mr Rinaldo Campos Soares CEO of Usiminas told reporters "This is an important project and was finished in record time. The project took about eight months to develop and will expand the unit's capacity by 30%.”

The project, which includes three equipment presses, required investment of BRL 46 million (USD 23 million) and will expand Usiparts' steel use to 3,300 tonnes per month from 2,500 tonnes per month.

Usiparts was created in 1996 and is one of 16 companies of the Usiminas group. Usiparts posted gross revenues of BRL 236 million in 2006.

Usiminas and subsidiary Cosipa have combined output capacity of 9.5 million tonnes of steel per year.